Beware of scams and frauds

No one is spared from fraud attempts. Recent trends show that scams are becoming increasingly subtle, informed by personal information posted on accessible websites such as LinkedIn, Facebook and others, and tailored to the age of potential victims. According to the annual report by the Canadian Anti-Fraud Centre, reported losses have risen dramatically from $383 million in 2021 to $530.4 million in 2022! Find out what to do if you’re a victim, and adopt safe habits to protect yourself from scams.

What to do if you’re a victim

There is a reason scams and frauds are such big business – they work! If you think you may have been a victim, these are steps you can take right away to protect yourself and to help others. 

1. Gather information: Collect all documents, receipts, messages and other evidence you have of what has happened. 
2. Contact your financial institution: In the case of money fraud, contact the financial institution that handled the money and report the incident. 
3. Contact the police: Any suspicious activity should be reported to local authorities. 
4. Report the incident: Contact the Canadian Anti-Fraud Centre, a national police service that gathers information, aids enforcement and supports prevention, and learn about other entities to contact depending on the type of fraud. 

Protect yourself

Scammers are always coming up with new tricks, but you can protect yourself with these recommendations. Find out more on the website of the Canadian Anti-Fraud Centre (CAFC). 

• Don’t be afraid to say no
  Scammers use intimidation and high-pressure sales tactics to trick you. Remember that any legitimate offer will allow you to review it in writing, or otherwise step away and take time to review your options. Avoid traps by saying no, hanging up, closing the door or not responding. 
• Do your research
  Always verify that a person or organization is who they say they are. Is the charity registered with the Canada Revenue Agency? Can you find up-to-date contact information for a business online? Can you get a call-back number? Can you verify information about a person through a mutual connection? 
• Don’t give out personal information
  Never hand out your information in response to an unsolicited call, email, text message, or visit to your home or workplace. Always check the sender first, then contact the person or business back yourself after verifying their identity. 
• Beware of upfront fees
  Be wary of goods, services or prizes that require you to pay in advance. For example, there are no taxes or fees on prizes in Canada. 
• Protect your computer
  Watch out for pop up messages, or any message or webpage with spelling or formatting errors. Do not click links or attachments before verifying the identity of the sender. Be sure to click on the sender line of any message to make sure the address is legitimate and matches the contact information you already have on file. Legitimate businesses will require you to log in to your secured account to perform any action – be sure to do so via your usual way of accessing your online or in-app account, and not by clicking on an unsolicited link. 
• Recognize spoofing
  Phone numbers, caller ID, email addresses and websites can all be spoofed. Never assume that your call display is accurate. Instead, only answer calls or messages from saved contacts. In the case of a business or organization, hang up and initiate contact yourself by making the outgoing call to a number you have verified as legitimate. Double check the URL of any webpage before submitting any information. 
• Be informed
  Known scams are detailed on the CAFC website. Discover scams by medium, or that specifically target businesses or individuals. Being aware of existing threats can help you recognize a scam before you fall victim to it.

Finally, remember to trust your instinct. If something seems too good to be true, it probably is.